FTSE, Dow join forces on new index classifications

The Industry Classification Benchmark will start taking over from respective existing systems by the end of 2004, with a transition period beginning by June this year. More than 50,000 equities will be affected, and the ICB is expected to be adopted by all the world’s major stock exchanges. Investors using the ICB will benefit from "a better measure of returns at sector level," the two index providers state. The new system will monitor: 10 industries, 18 new "Supersectors", 39 sectors, 104 subsectors. For further information, visit www.ftse.com/icb IFAonline